Bitcoin Derivative Pressure Score Hits 30%: Downside Risk Signal
Bitcoin is at a crossroads after failing to reclaim higher supply levels, raising concerns among investors about the strength of its current trend. The price has slipped below key demand zones, and bullish momentum is showing signs of exhaustion. For now, traders are watching closely as the market decides whether BTC can recover or if […]
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On January 8, 2022, the price of bitcoin dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 10. The last time the CFGI score was this low was 171 days ago on July 21, 2021. Current CFGI Sentiment Shows ‘Extreme Fear’ — Bitcoin’s Price 39% Lower Than All-Time High Digital currency markets shed billions in value this past week and the leading crypto asset bitcoin (BTC) lost close to 10% during the last....
An important fundamental health signal of the Bitcoin network just crossed into “capitulation” territory, which in the past was associated with downside risk. However, the tool’s creator says that it wasn’t designed to give sell signals, and shouldn’t be interpreted that way. But because of how profitable its been used as a buy signal over […]
The profit booking which began since Bitcoin hit a high of $278 continues. Bitcoin price has dropped 2.37% since yesterday to be trading at $264.55. With this decline, the cryptocurrency also breached a near-term support of $267 and I believe the next downside target is $260. The 240-minute BTC-USD price chart above indicates that Bitcoin may face more pressure as technical indicators as well as the chart structure have turned bearish. Bitcoin Chart Structure - A simple glance at the above chart would reveal a Head and Shoulders pattern - a bearish pattern which indicates a trend reversal.....
The VORTECS™ Score for IQ surged to a record high shortly before Everipedia announced that token stakers would receive special NFTs. In the world of technical analysis, any tool that gives the trader insight into the next possible market move is valued highly because an early signal of impending price action can turn an average trade into a multi-bagger.In a rare occurrence, Cointelegraph Markets Pro just posted a VORTECS™ score of 98, one of the highest scores ever recorded, for an altcoin called Everipedia (IQ). The project is a blockchain-based encyclopedia that has the vision of....
Bitcoin price has taken a pause from its recent sharp drop, as sellers are waiting for more downside pressure. Potential catalysts for bitcoin price volatility this week include the release of US retail sales, PPI, and consumer sentiment data on Friday. Most of the technical indicators on the 1-hour chart of bitcoin price seem to suggest that more losses are possible. The short-term 100 SMA has just crossed below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. If a pullback occurs, the moving averages might be able to hold as dynamic resistance....